Southern Co (SO) Shares Bought by Barings LLC

Barings LLC lifted its stake in shares of Southern Co (NYSE:SO) by 132.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,406 shares of the utilities provider’s stock after purchasing an additional 12,200 shares during the period. Barings LLC’s holdings in Southern were worth $1,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Iberiabank Corp increased its stake in shares of Southern by 6.5% during the third quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after acquiring an additional 9,232 shares during the period. Confluence Investment Management LLC boosted its holdings in Southern by 2.8% during the fourth quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock worth $98,596,000 after buying an additional 55,264 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in Southern by 13.4% during the third quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock worth $1,166,000 after buying an additional 2,804 shares in the last quarter. National Pension Service boosted its holdings in Southern by 3.7% during the fourth quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock worth $40,523,000 after buying an additional 30,381 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Southern by 7.2% during the third quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock worth $45,761,000 after buying an additional 62,321 shares in the last quarter. Institutional investors and hedge funds own 53.87% of the company’s stock.

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Southern Co (NYSE SO) opened at $43.47 on Wednesday. Southern Co has a 52 week low of $42.63 and a 52 week high of $53.51. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The company has a market cap of $43,630.00, a P/E ratio of 77.63, a P/E/G ratio of 3.26 and a beta of 0.03.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Friday, February 16th. Southern’s dividend payout ratio is 414.29%.

SO has been the subject of a number of research reports. Bank of America restated an “underperform” rating and set a $51.00 target price on shares of Southern in a report on Tuesday, October 24th. Zacks Investment Research cut shares of Southern from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Mizuho restated a “buy” rating and set a $55.00 target price on shares of Southern in a report on Friday, December 8th. Royal Bank of Canada restated a “buy” rating on shares of Southern in a report on Friday, December 22nd. Finally, SunTrust Banks restated a “hold” rating and set a $50.00 target price on shares of Southern in a report on Tuesday, December 26th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.03.

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Southern Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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